Echelon up on metering system supply deal w/ Swedish utility

MichaelBaron

NEW YORK (MarketWatch) -- Shares of Echelon Corp.
ELON, +1.95%
gained almost 9% to $8.31 on Monday after the company said it's agreed to provide its NES smart electricity metering system to Vattenfell AB, a Swedish utility. Echelon said the deal could be worth as much as $50 million in revenue if all options are exercised and the project extends into 2008 or 2009. The company will be the prime contractor to provide the system for up to 700,000 Vattenhall customers, beginning in the first quarter of 2006.

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